Bonaire Software Solutions has added modules to its REVPORT revenue management system that will automate distributor rebate fee calculations and invoice reconciliation.

These two chores, at many firms, are still heavily manual and reliant on spreadsheets, despite the fact that third-party relationships and their fee arrangements can number in the hundreds. Automating the process, with rule-based calculation engines and workflow managers, will not only cut down on the labor, but the risk of error.

“There is clearly a need for technology that can deliver necessary insight to bring accuracy to a largely manual process,” says Christopher John, Bonaire’s chief executive officer. “Mutual funds cannot afford to expose themselves to the potential risk in an errant payment calculation.”

John’s company is targeting its REVPORT systems to capitalize on this growing need for back-office accuracy. In addition to the newly-launched modules, the system also offers fee-billing, multi-currency support, commissions, revenue modeling and forecasting, among other systems. Bonaire also markets two other systems: PAYPORT for receivables and EMPOWER BI for measuring the efficiency, value/cost ratio and profitability of distributor relationships.

"Transparency and accuracy is at the top of a mutual fund company's agenda,” said John. “Boards are looking for full disclosure on payments. Management wants to know which channels are selling. Salespeople are interested in better understanding their distributor relationships.”

Bonaire’s client base now numbers over 100 firms worldwide, including 13 of the 20 largest global investment managers. Clients include Nomura Asset Management, J.P. Morgan, Barclays, and Fidelity Investments.

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